Futures Market Moves Sideways, Spot Price Remains Stable [SMM Manganese Silicon Futures Review]

【SMM SiMn Alloy Futures Review: Futures Market Shows Sideways Movement, Spot Prices Remain Stable】 The SM2505 contract opened at 6,336 yuan/mt, fluctuated rangebound in the morning session, and finally closed at 6,332 yuan/mt, down 0.03%. The intraday high was 6,374 yuan/mt, and the low was 6,310 yuan/mt. Trading volume reached 180,752 lots, with open interest at 421,597 lots. On the raw material side, alloy plants showed low acceptance of high-priced manganese ore, and the manganese ore market continued to fluctuate downward. On the spot side, SiMn alloy production remained relatively stable, with no production resumption plans for previously idled SiMn alloy plants. Downstream, steel mills exhibited weak overall purchasing sentiment, mostly adopting a wait-and-see approach. The tug-of-war between sellers and buyers in the SiMn alloy market persisted, while spot prices remained stable.